South Dakota Retirement System has good investment return
Photo Credit: MGN Online
PIERRE, S.D. (AP) - Officials say the rising stock market has helped the South Dakota Retirement System's assets earn 14.9 percent on investments through the first nine months of the current financial year.
Retirement System Executive Director Rob Wylie says if that level of investment return holds through the end of the financial year, the system will be fully funded by June 30. That would mean its assets are 100 percent of the value of all potential future benefits to be paid to retirees.
The Retirement System held nearly $8.8 billion in assets as of March 31.
State Investment Officer Matt Clark says returns so far this year are good, but his office's success must be measured over the long term.
The Retirement System has 75,000 members, and most are still working.
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